- •Пензенский государственный университет economics
- •Пенза 2005
- •Glossary
- •Introduction
- •Exercises
- •Text 2 Entrepreneurs
- •Exercises
- •Text 3 The Elements of Risks
- •Exercises
- •Discussion
- •Unit II. Small-scale business Glossary
- •1. Translate the following derivatives paying attention to the suffixes:
- •Text 1 The Sole Proprietorship
- •Exercises
- •Text 2 Limitations to the Size of Proprietorship (1)
- •Exercises
- •Text 3 Limitations to the Size of Proprietorship (2)
- •Exercises
- •Text 4 The Partnership
- •Exercises
- •Discussion
- •Unit III. Large-Scale Business Glossary
- •1. Choose several principles to arrange the words into groups.Translate the words:
- •Text 1 The Corporation
- •Exercises
- •3. Give derivatives of the following words and translate them:
- •Text 2. Organization of the Corporation
- •Exercises
- •3. Give derivatives of the following words and translate them:
- •Text 3. Organization of the Corporation II
- •Exercises
- •Unit IV. Securities and the Organization of the Corporation Glossary
- •Text 1. Organization of the Corporation III
- •Exercises
- •Text 2. Bonds
- •Exercises
- •Text 3. Leverage
- •Discussion
- •Unit V. Financial Aspects of Corporation Glossary
- •Text 1. Corporate Finance
- •Exercises
- •Text 2. The Securities and Exchange Commission
- •Exercises
- •Text 3. Concentration of Control
- •Exercises
- •Text 4. Management Control
- •Exercises
- •Discussion
- •Unit VI. Evaluating Performance of the Firm Glossary
- •Text 1 The Balance Sheet
- •Exercises
- •Text 2 The Income Statement
- •Exercises
- •Discussion
- •Unit VII. The Importance of the Corporation Glossary
- •Text 1 The Number of Corporations
- •The Size of Corporations
- •Exercises
- •Text 2 Size of Firm Vs. Size of Plant
- •Exercises
- •Text 3 Specialized Management
- •Exercises
- •Text 4 Other Reasons for Larger Firms
- •Exercises
- •Discussion
- •Review tasks
- •Literature
- •Contents
Exercises
1. Find the English equivalents in the text:
частная собственность, капиталовложение, личный бизнес, долгосрочный проект, выйти из дела, выгодное предприятие, физические активы, руководить делом, войти в дело, выкупить долю, организация бизнеса, организаторские способности, экономический рост, основать фирму, использовать возможности, частное предпринимательство.
2. Find the synonyms of the following words in the text:
project, cause, enterprise, to direct, intention, essential, to include, to unite, arrangement, to establish, fast, to use, possibility, founder, branch.
3. Give antonyms of the following words:
long-term, profitable, sale, to sell, slow, to start, successful, possible.
4. Give possible translations of the words:
term, proposition, reason, process, run, part, mean, type, field.
5. Give logical word-combinations with the words proprietorship and economic and translate them.
6. Write definitions for the following notions:
long-term proposition, to run the business, to enter the business, to move on to a new business, economic growth, to exploit the opportunities.
Text 4 The Partnership
a). Read the text and make a plan of it.
b). Find the definition of a partnership.
c). Are there any similarities between sole proprietorships and partnerships?
d). Are there any limitations to the size of partnerships?
e). Translate the text.
A logical way to increase to capital available to a firm is to increase the number of owners. partnership is composed of several owners who pool their resources together to form the firm. The partners agree among themselves about how much capital each is to contribute, what role each will play in the management, and how much each will share in the profits.
The partnership contract legally defines the duties and the responsibilities of the partners to each other. But as far as the public is concerned, each of the partners has the legal status of a sole proprietor. Each partner can sign contracts for the firm, can buy or sell goods or assets belonging to the firm, can borrow or lend, on the firm’s behalf, and can commit the firm just as a sole proprietor could.
Such a commitment is legally binding on the firm and on all the other partners, whether they agree to it or not. Moreover, each partner is fully liable for all the firm’s debts, just as the sole owner. If the firm fails, leaving assets inadequate to cover its debts, creditors can sue any partner individually to collect the balance due. The legal responsibility of partners for each other’s acts necessarily confines partnerships to small groups of people with complete confidence in one another. For this reason partnerships rarely grow large enough to apply modern production methods.
Changing ownership of a partnership is even more of a problem than it is for a sole proprietorship. Since partnerships are formed by a legal contract among the owners, the withdrawal of any partner requires the business reorganization.
A partnership is automatically terminated by the death of a partner, and must be reorganized as a new firm.